We are approaching an exchange on a house in Shard End and my mum and dad have transferred the exchange deposit to my lawyer. I am now informed that as the deposit has not come from me my property lawyer needs to disclose this to my lender. Apparently, in also acting for the bank he must advise them that the balance of the purchase price is not just from me. I advised the lender concerning my parents' contribution when I applied for the mortgage, so is it really appropriate for this now to hold matters up?
Your property lawyer is obliged to check with the bank to ensure that they are aware that the balance of the purchase price is not from your own resources. The solicitor can only reveal this to your lender if you permit them to, failing which, your lawyer must cease to continue acting.
We just had an offer accepted to buy with Coventry BS. We have called around locally yet am struggling to find a Shard End conveyancing firm on the Coventry BS approved list. Could you help?
Feel free to make use of the search tool on this site. Pick the building society and type Shard End or your preferred area and you will see a number of lawyer located in Shard End or nearest you.
We are planning on selling our house in Shard End and the buyers lawyers are claiming that there is a possibility that the property was built land that was not decontaminated. A local conveyancer would know this is not the case. For the life of me I don't know why the purchasers used an internet conveyancing practice rather than a conveyancing solicitor in Shard End. We have lived in Shard End for 5 years we know of no issue. Should we contact our local Authority to get clarification that there is no issue.
It would appear that you have a conveyancing firm currently acting for you. Are they able to advise? You need to enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same ailment)
I'm refinancing my existing property to a BTL mortgage with Leeds Building Society and intend to use the remaining equity as a down payment on a second property. The area we are talking about is Shard End. Will your lawyers be able to act for the two mortgage companies and tie in the two deals?
Make use of our search tool on this site to be sure that the lawyers are on the relevant lender panels. Assuming that they are the lawyer should be able to simultaneously deal with the two deals but you should have a chat with you solicitor and specify your desired outcome and needs.
Me and my fiance are soon to exchange buying a property in Shard End but as a result of damage from the recent storms I have negotiated compensation from the vendor of £3k taking the form of a reduction in the price. I had intended this to be addressed as part of the conveyancing process but my bank will not permit this. Why were they approached?
The solicitor being on a lender approved list is required to disclose to the mortgage company of any changes to the purchase figure. If you prohibit your solicitor to disclose the reduction to your bank then they would have no choice but to refrain from acting for you and the lender.